TokenMarket is a global investment platform that utilises its blockchain-based platform to enable rapid growth companies to raise capital faster. The firm has recently partnered with Loopring, the protocol for decentralized token exchanges in order to strengthen the structure of its upcoming decentralized security token exchange.
Founded in 2017, Loopring is an open-sourced protocol for building decentralized exchanges and supporting infrastructure.
Aim of the Partnership
With this partnership, the two companies will work together to launch Loopring Protocol 3.0 within TokenMarket’s upcoming decentralized securities exchanges, located in Europe and the Middle East. If we take into account the system of current decentralized exchanges speeds allow approximately two trades per second to be settled on the Ethereum blockchain. Notably, Loopring Protocol 3.0 allows up to 525/sec by using zero-knowledge proofs, dramatically increasing throughput and improving the speed and cost of TokenMarket’s decentralized exchanges.
Protocol 3.0 has focused on providing scalability without sacrificing the security guarantees offered by public blockchains. It does so by ensuring that only a small amount of information requires on-chain verification, with most activity being compressed into proofs. As a result, it allows decentralized exchanges to offer better safety, with comparable speeds previously only found on centralized exchanges.
TokenMarket CTO and Co-founder Mikko Ohtamaa stated “Using Loopring Protocol 3.0 will enable our users to have even more protection on our decentralized security token exchange. The groundbreaking protocol Loopring has developed, combined with our decentralized platform, will give users the freedom that centralized exchanges simply do not have. I am excited to be working closely alongside the Loopring team as things develop.”